The Wild Wild World of Wealth |
"My job is the occupation formerly known as 'stockbroker.' But it has been years since anyone called me that. Stockbroker sounds oily. Glengarry Glen Ross. The word makes clients twitch..."
Norb Vonnegut | February 5, 2010
“Deckchairs. Titanic”
UBS is reorganizing its troubled US wealth management operations—turning three division into two. Zzzzzzz. I know this story packs enough punch to put Sominex out of business. But stay with me, because the UBS problems extend to the core of global financial reform.
An unnamed research analyst described the reorganization as follows: “Deckchairs. Titanic.” And [...]
Norb Vonnegut | February 1, 2010
Over the past few days, I’ve spent way too much time inside planes and rental cars. And during my travels, I’ve been thinking about one idiom, the one we keep hearing when Washington discusses Wall Street: “too big to fail.” Do we know what it means? Can songwriters explain the essence?
Does TBTF have anything to [...]
